Carthage, Indiana Property Taxes
The median property tax rate in Carthage, IN is 0.96%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $145,800 in Carthage, the typical annual property tax bill reaches $1,421, which is under the national median of $2,690. Property taxes in Carthage are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carthage's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Carthage or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carthage, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Carthage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carthage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carthage to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Carthage, Indiana
Property taxes in Carthage, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carthage is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Carthage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carthage estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Carthage's effective property tax rate to other areas within Indiana and the national median. For comparison, the 46115 zip code, which includes Carthage, has a median property tax rate of 0.96%. Understanding how these figures compare with Carthage provides valuable insights into the varying tax landscape across Rush County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carthage Tax Rate
0.96%
Average Rush County Tax Rate
0.92%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carthage, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46115 | 0.62% | 0.82% | 0.96% | 1.53% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Carthage, Indiana
In Carthage, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Rush County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Carthage are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Carthage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 46115, with a median tax bill of $1,421, while the lowest median tax bill is also in the same zip code, demonstrating a consistent tax landscape.
Average Carthage Assessed Value
$145,800
Average Rush County Assessed Value
$138,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carthage, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46115 | $49,700 | $90,200 | $145,800 | $218,400 | $320,640 |
Source: Ownwell
Property Tax Bills Across Carthage, Indiana
In Carthage, located in Rush County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Carthage, the median home price is $145,800, and the median property tax rate is 0.99%, aligning with the national average. Factors influencing the tax bill include property size, age, location, and any improvements made. For instance, homes at the 25th percentile have tax bills around $874, while those at the 75th percentile see bills closer to $2,460. The highest tax bills, at the 90th percentile, can reach up to $3,629. These property taxes fund essential community services such as schools, public safety, and infrastructure. For homeowners, this means that while property taxes are a significant annual expense, they contribute directly to the quality of life and services in their community.
Average Carthage Tax Bill
$1,421
Average Rush County Tax Bill
$1,215
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Carthage, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46115 | $489 | $874 | $1,421 | $2,460 | $3,629 |
Source: Ownwell